Reconciliation of Non-GAAP Adjusted Earnings Per Share
The following table presents a reconciliation of GAAP earnings (loss) per share to non-GAAP adjusted earnings per share, for each of the periods presented:
| | | | | | | | | | | | | | | | | | | | |
| | | For the Three Months Ended | | | For the Nine Months Ended | |
(Amounts expressed in millions of United States dollars) | | September 30,
2022 | | | September 30,
2021 | | | June 30,
2022 | | | September 30,
2022 | | | September 30,
2021 | |
Earnings (Loss) Per Share GAAP | | $ | (0.61 | ) | | $ | 0.14 | | | $ | (0.12 | ) | | $ | (0.90 | ) | | $ | 0.68 | |
Add (Deduct) Impact of: | |
Share-Based Compensation Related Premiums | | $ | 0.00 | | | $ | 0.03 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.03 | |
Fair Value of Derivative Liabilities - Warrants | | $ | (0.00 | ) | | $ | 0.00 | | | $ | (0.01 | ) | | $ | (0.01 | ) | | $ | 0.00 | |
Inventory Step Up Fair Value | | $ | 0.00 | | | $ | 0.01 | | | $ | 0.00 | | | $ | 0.01 | | | $ | 0.02 | |
Transaction, Acquisition, and Integration Costs | | $ | 0.14 | | | $ | 0.09 | | | $ | 0.08 | | | $ | 0.30 | | | $ | 0.14 | |
Covid Related Expenses | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.05 | |
Impairment and Disposal of Non-Operating Assets, net | | $ | 0.01 | | | $ | 0.00 | | | $ | 0.00 | | | $ | 0.03 | | | $ | 0.00 | |
Impairment and Disposal of Long-lived Assets, net | | $ | 0.28 | | | $ | 0.00 | | | $ | 0.02 | | | $ | 0.37 | | | $ | 0.00 | |
Results of Discontinued Operations | | $ | 0.20 | | | $ | 0.00 | | | $ | 0.01 | | | $ | 0.23 | | | $ | 0.00 | |
Adjusted Earnings Per Share Non-GAAP | | $ | 0.02 | | | $ | 0.27 | | | $ | 0.00 | | | $ | 0.03 | | | $ | 0.93 | |
Forward-Looking Statements
This news release includes forward-looking information and statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to the Company’s expectations or forecasts of business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs and include statements regarding the Company’s expected revenue and adjusted EBITDA for fiscal 2022, its plans for streamlining operations and navigating short term headwinds, and its beliefs as to its positioning for cannabis 2.0. Words such as “expects”, “continue”, “will”, “anticipates” and “intends” or similar expressions are intended to identify forward-looking statements. These forward-looking statements are based on the Company’s current projections and expectations about future events and financial trends that management believes might affect its financial condition, results of operations, business strategy and financial needs, and on certain assumptions and analysis made by the Company in light of the experience and perception of historical trends, current conditions and expected future developments and other factors management believes are appropriate. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein, including, without limitation, the risks discussed under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2021 and in our periodic reports subsequently filed with the United Sates Securities and Exchange Commission and in the Company’s filings on SEDAR at www.sedar.com. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking
